​Nestle Announces Food Packaging Investments

On January 16, 2020, Nestle announced its intent to reduce use of virgin plastics by one third by 2025 through use of food-grade recycled plastics – The company will invest up to $2.07 billion “… to lead the shift from virgin plastics to food-grade recycled plastics … [which are] difficult to recycle for food packaging, leading to a limited supply … To create a market, Nestlé is therefore committed to sourcing up to 2 million metric tons of food-grade recycled plastics and allocating more than $1.5 billion to pay a premium for these materials … [The company will also] launch a $250 million sustainable packaging venture fund to invest in start-up companies that focus on these areas …” #FoodPackaging #PlasticPackaging #PlasticWaste​ ​#Recycling​​​​